Finance

Banking

Bloomberg: Nagy says banking industry’s profits to improve by 2019

Márton Nagy, Executive Director of the Hungarian National Bank (MNB) says the Hungarian banking industry may break even this year and...

MNB

MNB rejects accusation of covert monetary financing

The National Bank of Hungary (MNB) is not involved in covert monetary financing through its subsidiaries, the MNB told state...

MNB

Forint stabilises on interbank market

The forint was trading at 312.25 to the euro late Monday on the interbank forex market, slightly up from 312.34...

MNB

Forint back on the slope on interbank market

The forint was trading at 312.67 to the euro late Friday on the interbank forex market, down from 311.03 late...

MNB

Forint firming on interbank market

The forint was trading at 311.38 to the euro late Thursday on the interbank forex market, up from 312.36 late...

Banking

Financial Times: ‘Orbánomics’ stuns critics

The Hungarian economy under Prime Minister Viktor Orbán grew faster than its EU peers in 2014, though critics say this...

Debt

ÁKK sells HUF 58.5 bln of bonds at auction, more than planned

The Government Debt Management Centre (ÁKK) sold HUF 58.5 bln of bonds at auction today, raising its original offer from...

MNB

Report: Non-financial investorsʼ stake in Hungary’s state debt third highest in EU

The percentage of Hungaryʼs state debt in the hands of non-financial investors is the third-highest in the European Union, Hungarian...

MNB

MNB: Rules mitigating mortgage financing mismatch take effect October 2016

The National Bank of Hungary (MNB) announced yesterday that it will require lenders to back at least 15% of their...

Debt

ÁKK buys HUF 65.8 bln of bonds at reverse auction, more than planned

The Government Debt Management Agency (ÁKK) bought a combined HUF 65.8 bln of bonds before maturity at a reverse auction...

MNB

MNB could give lenders €1.1 bln for FX car, personal loans

The National Bank of Hungary (MNB) is prepared to provide lenders with some €1.1 bln in foreign currency necessary for...

Debt

ÁKK sells HUF 45 bln of three-month bills at auction, more than planned

The Government Debt Management Agency (ÁKK) sold HUF 45 bln of discount three-month T-bills at auction yesterday, HUF 5 bln...

MNB

Garantiqa expects 18% volume increase

Hungarian guarantor Garantiqa, which controls three-fourths of Hungaryʼs surety market, expects its guarantee volume to rise by 18% to HUF...

Debt

Retail investors finance 80% of this yearʼs adjusted deficit

Retail investors in Hungary have already financed about 80% of this yearʼs budget deficit, adjusted for European Union transfers, György...

MNB

MNB: Corporate lending conditions ease in Q1

In Q about 30% more lenders, weighed by market share, eased non-price lending conditions for companies, than those which tightened...

Banking

OTP Says Exposure Limited as Paraguay’s Ueno Bank Enters Insolvency

OTP Bank said its USD 47 million investment in Paraguay’s Ueno Bank represents a small exposure for the Hungarian lender...

Ratings

Fitch Sees Hungary’s Deficit Narrowing but Debt Burden Rising

Hungary’s budget deficit is expected to narrow and growth to accelerate in 2027, but rising debt and fiscal vulnerabilities continue...

MNB

MNB Cites Global Uncertainty Behind September Rate Hold

Global economic uncertainty constrained Hungary’s monetary policy room for maneuver, the National Bank of Hungary’s (MNB) Monetary Council agreed at...

OTP Says Exposure Limited as Paraguay’s Ueno Bank Enters Insolvency

OTP Bank said its USD 47 million investment in Paraguay’s Ueno Bank represents a small exposure for the Hungarian lender...

What Happens Next to What We’ve Built? New Challenges in Family Wealth Planning

Building a successful family business takes decades of work, but its future also depends on how carefully the transfer of...

Hungarian Banks Seek Gradual Reduction in 45% Effective Tax Burden

Hungarian banks hope for a “slow but certain” reduction in their tax burden, Hungarian Banking Association President Radovan Jelasity said...

MNB Probe Widens as International Arrest Warrant Issued for Ádám Matolcsy

International arrest warrants have been issued for Ádám Matolcsy, son of former Hungarian central bank Governor György Matolcsy, and businessman...

MNB Holds Base Rate at 5.5%, Maintains Symmetric Interest Rate Corridor

The Monetary Council of the National Bank of Hungary (MNB) left the base rate unchanged at 5.5% at its monthly...

Gránit Bank Hit by Largest Loan Loss Provision in Its History

Gránit Bank reported an additional approximately HUF 9.4 billion loan loss provision in the third quarter of 2026, the largest...

Fitch Sees Hungary’s Deficit Narrowing but Debt Burden Rising

Hungary’s budget deficit is expected to narrow and growth to accelerate in 2027, but rising debt and fiscal vulnerabilities continue...

MNB Cites Global Uncertainty Behind September Rate Hold

Global economic uncertainty constrained Hungary’s monetary policy room for maneuver, the National Bank of Hungary’s (MNB) Monetary Council agreed at...

MNB International Reserves Fall to EUR 62.1 bln in September

The National Bank of Hungary’s (MNB) international reserves stood at EUR 62.061 bln at the end of September, down EUR...

K&H Bank and Mastercard Extend Strategic Partnership Through 2030

K&H Bank and Mastercard have extended their exclusive strategic partnership through 2030, with plans to expand personalized digital financial services...

OTP Forecasts Hungary’s GDP Growth at 1.7% in 2026, 2.5% in 2027

Hungary’s economy could expand by 1.7% this year and 2.5% in 2027, with household consumption driving growth in 2026, according...

Hungary Posts EUR 481 mln Trade Deficit as Import Volumes Jump 13%

Hungary recorded a EUR 481 million goods trade deficit in August as import volumes rose 13% year-on-year while export volumes...

Bayer Construct Gets Default Ratings After Bankruptcy Protection Filing

Scope Ratings has assigned default ratings to Bayer Construct following its bankruptcy protection filing, citing financial pressure linked partly to...

Former Central Bank Governor Matolcsy Questioned as Suspect in Erste Case

Police have questioned seven suspects, including former National Bank of Hungary Governor György Matolcsy, in an investigation into alleged abuse...

MNB to Lower Inflation Target to 2.5% From 2028, Holds Base Rate at 5.5%

The National Bank of Hungary (MNB) will lower its inflation target to 2.5% from Jan. 1, 2028, while retaining its...